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Midnight Corporation Transferred Part of Its Assets to Noon Corporation

question 9

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Midnight Corporation transferred part of its assets to Noon Corporation in exchange for all of Noon's stock. Midnight distributed all of Noon's stock pro rate to Midnight's shareholders. What is this type of reorganization?


Definitions:

Same Job

A position or role within an organization or field that has identical responsibilities, tasks, and requirements as another.

Different Definitions

This term alludes to the concept that the meaning or interpretation of concepts can vary based on context, perspective, or usage.

Inevitable

A situation or event that is certain to happen and cannot be avoided or prevented.

Organizational Unit

A specific department, division, or group within an organization, often defined by function or role.

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